The issue of USOC funding for Olympic hopefuls was was examined on HBO’s “Real Sports” this week, with host Bryant Gumbel noting since the Olympics "routinely generate billions of dollars" that have enriched the USOC, "you would think that those young athletes training to represent the richest nation on earth would enjoy a lot of financial support, but that is hardly the case.” Gumbel said “most of America’s Olympic hopefuls are struggling just to make ends meet.” HBO’s Jon Frankel noted over the last decade, the USOC has taken in more than $2B in revenue. He added, "According to insiders, many, if not most, of America's Olympic hopefuls get virtually no financial help from the USOC.” Snowboarder Jonathan Cheever, who will compete in Pyeongchang, said, “I expected a lot more support rather than running up my credit card debt into close to $70,000-80,000.” Cheever works as a licensed plumber to help defray training costs and said that the "little help he got last year from the USOC -- a $1500 stipend, plus health insurance -- only covered a fraction of his costs." Snowboarder Mike Trapp, who also will compete in Pyeongchang, said the USOC will take credit for him winning an Olympic medal, but the NGB has "really done nothing to get me an Olympic medal." Frankel said, “Nearly every other country on Earth funds their aspiring Olympians with a steady stream of government money, allowing them to train full time." Trapp: “I talk to (athletes) all the time from Austria, or Italy, and Germany and these countries and they're baffled that I'm paying my own way." Frankel said the USOC is “awash in cash,” generating $200M a year in revenue and “thanks to its non-profit status, doesn't pay a dime in taxes.” Frankel noted there are than 100 USOC employees paid six-figure salaries. He added that the USOC has $574M in “cash and assets” and is “guaranteed more than” $800M from TV rights alone over the next 15 years ("Real Sports," HBO, 1/30).
SBD Global's Tyler Everett this week discussed the USOC segment with the "Real Sports" Coordinating Producer Tim Walker (THE DAILY).
